2017 Session

Budget Amendments - SB900 (Committee Approved)

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Restore Funding for Enterprise Zone Program

Item 110 #1s

Item 110 #1s

First Year - FY2017 Second Year - FY2018
Commerce and Trade
Department of Housing and Community Development FY2017 $1,000,000 FY2018 $835,533 GF

Page 99, line 15, strike "$12,423,354" and insert "$13,423,354".
Page 99, line 15, strike "$12,587,821" and insert "$13,423,354".

Page 99, line 22, strike "12,150,000" and unstrike "13,150,000".

Page 99, line 23, strike "12,314,467" and unstrike "13,150,000".


(This amendment restores funding to the Enterprise Zone Program at the level appropriated in Chapter 780. This program is consistently oversubscribed with qualified recipients receiving prorated grant awards. The Real Property Improvement Grants portion of the Enterprise Zone Program was prorated at 69 percent in FY 2014 and 66 percent in FY 2015 (the most recent annual report available). This action mitigates the need to prorate grant awards and is consistent with the recommendations of the Enterprise Zone Program study just completed at the request of the General Assembly by the VCU Center for Urban and Regional Analysis.)